Daily Market Update 10/3/08

Mortgage rates were little changed Friday as the House began debating the $700 billion rescue package. Stocks rose modestly on hopes an agreement would be reached later today. Non-Farm Payrolls fell by 159,000 in September, much larger than expected. The Unemployment Rate held steady at 6.1%. Traders’ main focus remains on the fate of the government rescue plan. Markets are likely to remain extremely volatile while negotiations on the rescue package continue.

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